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ARTICLE · 18 SEPTEMBER 2023

FCA Publishes Letter On Preparations For Cryptoasset Financial Promotion Rules

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On 7 September 2023, the Financial Conduct Authority ("FCA") published a letter ("Letter") setting out its findings from meetings with various cryptoasset businesses ("CBs"), and additional actions...

United StatesTechnology
Neil Robson
Neil Robson
Christopher Collins
Christopher Collins
Sara Portillo
Sara Portillo
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On 7 September 2023, the Financial Conduct Authority ("FCA") published a letter ("Letter") setting out its findings from meetings with various cryptoasset businesses ("CBs"), and additional actions it is taking to support CBs in their compliance with the FCA's new cryptoasset financial promotions rules coming into force on 8 October 2023.

From such date, the existing UK financial promotions rules will apply to all firms that market cryptoassets to UK consumers, regardless of whether the firm is based outside or inside the UK, or the type of technology used to make the promotion.

The Letter lists the following four key observations following its assessment on how firms are preparing for compliance:

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